US long-term mortgage rates fall; 30-year average at 3.82%

By Mortgage Rates June 6, 2019
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U.S. long-term mortgage rates fell for the sixth consecutive week, with the key 30-year loan average running below 4% and at its lowest point since September 2017.

The declining rates have been a boon to potential purchasers in the spring home buying season, and the number of homeowners seizing the opportunity to refinance mortgages jumped this week. Mortgage buyer Freddie Mac said Thursday the average rate on the 30-year, fixed-rate mortgage dipped to 3.82% from 3.99% last week. By contrast, a year ago the benchmark rate stood at 4.54%.

The average rate for 15-year, fixed-rate home loans declined this week to 3.28% from 3.46%.

Read the full article here: The mortgage rate fell…

 

 

 

 

 

About the Author
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Adam Ettenson, Broker / Owner

Adam’s real estate experience encompasses residential sales, renovations, real estate development, property and asset management, and multifamily investment acquisitions. He has helped countless clients buy and sell property throughout the Bay Area, including in San Francisco, Marin County, Alameda County, San Mateo County, and Santa Clara County. He has overseen the condo conversion and major renovation of a two-unit building, and has worked on several affordable housing residential development projects with budgets exceeding $20 million, helping low-income families secure safe, affordable housing. He is currently working on a project that entails adding a condo unit to an existing building as well as a major horizontal expansion and renovation, increasing the total square footage to approximately 1500 square feet. Prior to working in real estate, Adam practiced immigration law and real estate law. His extensive background as an attorney and his broad real estate experience allow him to faithfully advance his clients’ interests in both the purchase and sale of real estate. Adam’s clients benefit from strong negotiation skills, contractual expertise, and deep knowledge of local rules and regulations.